Global Coated Steel Market is segmented By Type (Metallic Coated Steel, Organic Coated Steel, Tinplate), By Resin Type (Polyester Color Coated Steel, Fluoropolymer Color Coated Steel, Siliconized Polyester Color Coated Steel, Plastisol Color Coated Steel), By Method (Hot-dip Galvanizing, Electro-Galvanizing, Others), By Grades (High Strength Steels, Ultra-High Strength Steels, Structural Steels), By Application (Construction and Building Components, Automotive, Domestic Appliances, Drain pipes, Tubes and Sections, Electrical Goods, Machinery, Others), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Coated Steel Market Overview
The Global Coated Steel Market is estimated to reach at a high CAGR during the forecast period 2023-2030. Coated steel has an additional layer of materials to protect it from rusting and give an aesthetic appearance and food safety. The materials which are used for coating are either organic or metallic materials. Generally, a coating layer is added to flat steel when they are in coil form. Coated steel is a highly lucrative market with a wide range of applications in different industries, including automobile, construction, white goods and food industry. Growing urbanization and a rising population are developing markets for coated steel products in the construction sector. According to the United Nations Department of Economic and Social Affairs study, around 55% of the global population lives in urban areas. Moreover, new investments in the coated steel are being carried out mainly in Asia, followed by the US. For instance, Chinese steelmaker Chengde has installed an HDG plant with 0.4 million tons/year capacity.
Coated Steel Market Scope and Summary
| Metrics | Details |
| Market CAGR | High |
| Segments Covered | By Type, By Resin Type, By Method, By Grades, By Application and By Region |
| Report Insights Covered | Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
| Fastest Growing Region | Asia Pacific |
| Largest Market Share | North America |
Coated Steel Market Dynamics and Trends
Growing demand from construction and building components is expected to drive the coated steel market
The use of coated steel for building applications, compared to other materials, allows the creation of functional and beautiful buildings that meet high environmental and quality requirements. Coated steels are lightweight, have high strength and highly durable. These properties help to short construction times and easy handling on the construction site.
Moreover, Buildings made from coated steel provide safe and sustainable climate protection with meagre maintenance costs. Nowadays, steel is 100 % recyclable without any loss of quality. Hence it can be re-melted and processed into new steel products.
The construction industry continues to expand owing to urbanization and a strong economy, and favourable market fundamentals for commercial real estate. For instance, according to the Institution of Civil Engineers (ICE) study, the global construction industry is expected to reach USD 8 trillion by 2030, driven by China, the United States and India.
Henceforth, increasing coated steel applications in construction and building components and the growing construction sector is expected to drive the coated steel market over the forecast period.
Disadvantages related to galvanized steel is expected to restrain the coated steel market
Galvanized steel often hides significant defects beneath the zinc coating on the steel. Galvanized steel pipes also sometimes contain lead, which corrodes quickly and reduces the lifespan of the piping. Moreover, the steel leaves rough patches inside pipes, resulting in severe failures and stoppages that can be expensive to repair.
Because of these issues, most modern homes use copper piping as an alternative.
Coated Steel Market Segmentation Analysis
Based on type, coated steel market is segmented metallic coated, organic coated and tinplate.
Metallic coated steel is expected to dominate the market because of its extensive application in building and construction, automobile and other different industries.
Metallic coated sheets are corrosion resistant, coated typically with zinc in pure or alloyed forms. There are several metallic coating methods in which most of the steel companies use the Hot-dip Galvanization (HDG) process. Hot-dip galvanizing is a coating steel method with zinc or its alloy by putting steel in its molten bath. The bath is prepared above the melting point of zinc or zinc alloy ranging around 820-860⁰F.
Metallic coated steel is widely used in applications where the material is exposed to the corrosive environment during the application, such as air conditioners, outdoor electrical boxes, laundry appliances, refrigerators, roofing sheets, vehicle parts and many others.
Moreover, Hot-dip galvanized sheets are also used in coastal infrastructures because of their non-vulnerability to a salty environment. For instance, the American Institute of Architect strongly recommends using these sheets in the 5km range of coastal areas.
Global Coated Steel Market Geographical Analysis
Asia-Pacific is expected to dominate the coated steel market over the forecast period
Asia-Pacific has the largest steel-producing capacity, providing huge raw materials for coated steel. As per World Steel Association, Asia produced 1,374.9 Mt of crude steel in 2020, with an increase of 1.5% compared to 2019. China’s crude steel production in 2020 reached 1,053.0 Mt, up by 5.2% in 2019. In addition, China’s share of global crude steel production increased from 53.3% in 2019 to 56.5% in 2020.
Moreover, the growing demand for coated steel in the building & construction industry drives the global market. For instance, according to the Statistics Bureau Ministry of Internal Affairs and Communications of Japan, the country spent US$ 30,380 billion on building & construction in 2017; of this, US$ 16,570 billion was spent on residential buildings and US$ 13,810 billion on non-residential buildings.
Hence, increasing building and construction and potential raw material in the region is expected to dominate the coated steel market.
Coated Steel Market Companies and Competitive Landscape
The coated steel market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Arcelor Mittal, Baosteel, China Steel Corporation, United States Steel, Wuhan Iron and Steel, Tata Steel, Essar Steel Ltd., SSAB AB, OJSC Novolipetsk Steel, ThyssenKrupp AG among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the coated steel market globally.
ArcelorMittal
Overview: ArcelorMittal is a multinational steel manufacturing and mining company headquartered in Luxembourg. The company manufactures steel in 18 countries and serves customers across 160 countries around the globe.
Product Portfolio: The company offers its products and services to automotive and mobility, construction, energy, packaging, appliances, transport and mining. The company manufactures both metallic as well as organic coated steel.
Key Developments:
- ArcelorMittal has unveiled a new technology called Jet Vapor Deposition (JVD) for metallic coating. The new technology is a breakthrough process, both in terms of production process and product development.
The global coated steel market report would provide an access to an approx. 77 market data table, 75 figures and 238 pages.
